Navigating turbulence in the stock market amid the Russian-Ukraine Crisis

The Russian invasion of Ukraine sparked a rollercoaster ride on the stock market, which had already been trending down since January.

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"Investors are kind of panicking here. I’m getting lots of emails and phone calls."

Investors are watching the drama, both as Russia invades Ukraine, and in the stock market.

"Even before Russia declared this invasion on Ukraine, markets were already down 10% from the peak," said Roberts. "Nasdaq was down almost 20% from the peak."

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"We're at a forty-year-high on inflation, interest rates are creeping up, and they’re going to go higher. And now we have Ukraine to add to the mix," said personal finance expert Dan Rocatto with Credible.com.

RIA Advisors analyst Lance Roberts has charted the impact of world events on the stock market since 1985, pointing out it has always eventually recovered. He says Thursday's deep dive in the market after the invasion rebounded by day's end.

"A lot of people were selling at the open, and the markets rebounded. The Nasdaq had a 7% round trip in one day," said Roberts.

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If the volatility makes you nervous, you may be taking too much risk.  You can redirect your investments.

"Take a look at your portfolio. Make sure you’re comfortable with the risk in there," said Rocatto. "If you’re not, dial it down. No matter what your age. Sleep better at night."

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Roberts says it's important to remember that retirement investing is long term, and a correction had been expected.  

When stocks are low, it's a good time to buy, such as maximizing your IRA contribution for a tax deduction.

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"I would be coming out of those inflation trades, energy, gold, and start to move them back to areas of the market that do well in a slower growth environment. That’s staples, that’s technology, and that’s going to be things like communications that do better," said Roberts.

Analysts say investors may also want to consider a Roth conversion or loss harvesting during a down market.  Talk to your financial advisor or tax professional.